Statutes, codes, and regulations
Kentucky Revised Statutes
Title 25 - BUSINESS AND FINANCIAL INSTITUTIONSChapter 286 - KENTUCKY FINANCIAL SERVICES CODE
Subtitle 286.8 - MORTGAGE LOAN COMPANIES AND BROKERS
Section 286.8-227 - Collection of civil penalties to be deposited in mortgage fraud prosecution fund - Distribution - Administrative regulations

Ky. Rev. Stat. § 286.8-227

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Current through 2024 Ky. Acts ch. 225
Section 286.8-227 - Collection of civil penalties to be deposited in mortgage fraud prosecution fund - Distribution - Administrative regulations

The commissioner is authorized through the collection of civil penalties or contributions to retain the funds collected for the purpose of depositing the funds into the mortgage fraud prosecution fund created in KRS 286.8-225. The funds shall be transmitted monthly to the State Treasurer, who shall deposit the funds into the mortgage fraud prosecution fund created in KRS 286.8-225. The commissioner of the Department of Financial Institutions is responsible for the distribution of the funds in the mortgage fraud prosecution fund and shall, in consultation with the Attorney General and local prosecutors, develop administrative regulations for the use of these funds.

KRS 286.8-227

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 789, effective7/15/2010. -- Amended 2009, Ky. Acts ch. 104, sec. 16, effective 6/25/2009. -- Created 2008, Ky. Acts ch. 175, sec. 23, effective 4/24/2008.